FMR LLC raised its stake in Gap, Inc. (The) (NYSE:GPS) by 91.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,761 shares of the apparel retailer’s stock after buying an additional 77,185 shares during the period. FMR LLC’s holdings in Gap, Inc. (The) were worth $3,929,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GPS. Kentucky Retirement Systems bought a new position in shares of Gap, Inc. (The) during the fourth quarter worth approximately $357,000. Macquarie Group Ltd. raised its position in shares of Gap, Inc. (The) by 136.8% in the fourth quarter. Macquarie Group Ltd. now owns 18,000 shares of the apparel retailer’s stock worth $404,000 after buying an additional 10,400 shares in the last quarter. Pensionfund Sabic bought a new position in shares of Gap, Inc. (The) during the first quarter worth approximately $1,414,000. Pensionfund DSM Netherlands bought a new position in shares of Gap, Inc. (The) during the first quarter worth approximately $2,813,000. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Gap, Inc. (The) by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 190,401 shares of the apparel retailer’s stock worth $4,625,000 after buying an additional 5,691 shares in the last quarter. 57.30% of the stock is currently owned by institutional investors.
Shares of Gap, Inc. (GPS) opened at 22.65 on Friday. The firm’s 50-day moving average price is $23.13 and its 200-day moving average price is $23.68. Gap, Inc. has a one year low of $21.02 and a one year high of $30.74. The firm has a market capitalization of $8.95 billion, a P/E ratio of 10.79 and a beta of 0.87.
Gap, Inc. (The) (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 17th. The apparel retailer reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Gap, Inc. (The) had a net margin of 5.42% and a return on equity of 28.79%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. On average, equities analysts forecast that Gap, Inc. will post $2.00 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.06%. Gap, Inc. (The)’s dividend payout ratio (DPR) is presently 43.81%.
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A number of analysts have issued reports on the company. TheStreet downgraded Gap, Inc. (The) from a “b-” rating to a “c” rating in a research report on Thursday, May 18th. BMO Capital Markets set a $23.00 target price on Gap, Inc. (The) and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Jefferies Group LLC set a $35.00 target price on Gap, Inc. (The) and gave the stock a “buy” rating in a research report on Friday, May 19th. Oppenheimer Holdings, Inc. upgraded Gap, Inc. (The) from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $28.00 in a research report on Sunday, June 4th. Finally, FBR & Co set a $28.00 target price on Gap, Inc. (The) and gave the stock a “hold” rating in a research report on Friday, May 19th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $25.63.
Gap, Inc. (The) Company Profile
The Gap, Inc (Gap Inc) is an apparel retail company. The Company offers apparel, accessories and personal care products for men, women and children under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Its products are available to customers online through Company-owned Websites and through the use of third-parties that provide logistics and fulfillment services.
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